XRP clings to key support as investors eye key SEC meeting

XRP is stable near its 50 -day mobile average to $ 2.34, merchants are waiting for the regulatory clarity of a key meeting of the American securities commission and the exchange commission set for Thursday, May 29.

Despite recent legal uncertainty, the token has negotiated in a close weekly range of $ 2.29 to $ 2.47, up 7% compared to last month and 1.4% compared to the day before. Rinsing data shows that open interests increased by 2.25% to $ 4.76 billion and XRP (Xrp) The volume of derivative negotiations increased by 25.82% to 3.14 billion dollars in the last day, indicating an increase in speculative activity and a renewed positioning of traffic.

The volume of trading at point also jumped 40 to 1.86 billion dollars, reflecting an increase in interest for XRP. A large part of this attention is now turning to the meeting at home in the dry, which could relaunch the settlement talks with Ripple.

Tensions increased earlier this month when judge Annala Torres rejected The attempt of the dry to modify its final decision by raising the ban on institutional sales of XRP and by reducing the penalty of $ 125 million in Ripple. After rejection on May 15, XRP increased from $ 2.65 to $ 2.26, showing increased anxiety of investors.

Thursday’s meeting can provide the quorum necessary to resume negotiations. Legal analysts, including the pro-XRP lawyer, John Deaton, think that the SEC should recognize XRP as a product of progress to be made, a decision that could reshape the legal landscape and stimulate institutional trust.

If no agreement is concluded, the court could push the dry to resume its call Or give more time if the two parties show good faith. The court of appeal could also throw the case of the dry for procedural reasons, although this remains unlikely.

On the technical level, XRP is in a state of indecision. At 51, the relative resistance index indicates the neutral impulse. The stochastic oscillator shows a short -term increase potential with a possible purchase signal from occurrence levels. But the divergence of mobile average convergence is still a bit downward.

Meanwhile, Bollinger’s bands tighten tighter in the current price, which suggests that a greater movement could be on the horizon. While a drop below could open the way for additional drawbacks, a break above the upper strip could trigger a new bullish momentum.

XRP is still negotiating above the average long-term moving medium-sized despite short-term mixed signals. This shows that the deeper structural support is always intact. The token can come back to $ 2.65 if it exceeds $ 2.47, but it may continue to correct around $ 2.20 if it falls below $ 2.29. For the moment, XRP remains stuck in a tight range, while waiting for its next big catalyst.